U.S. patent application number 13/136596 was filed with the patent office on 2013-02-07 for financial card for online fund transfer and method therefor.
The applicant listed for this patent is Ivason Galloway. Invention is credited to Ivason Galloway.
Application Number | 20130036017 13/136596 |
Document ID | / |
Family ID | 47627572 |
Filed Date | 2013-02-07 |
United States Patent
Application |
20130036017 |
Kind Code |
A1 |
Galloway; Ivason |
February 7, 2013 |
Financial card for online fund transfer and method therefor
Abstract
Disclosed is a financial card comprising of at least a user
identification means including but not limited to a fingerprint
recognition scanner and at least a data transfer protocol, and
optionally an iris pattern scanner. Also disclosed is a method for
transferring funds from a first financial card to a second
financial card comprising (a) activating at least one of said first
and second financial cards by an user identification means
including but not limited to a provided finger print recognition
scanner, and upon successful verification of the user's identity;
(b) engaging the data transfer protocol.
Inventors: |
Galloway; Ivason; (Miami,
FL) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
Galloway; Ivason |
Miami |
FL |
US |
|
|
Family ID: |
47627572 |
Appl. No.: |
13/136596 |
Filed: |
August 5, 2011 |
Current U.S.
Class: |
705/16 ; 235/379;
235/380; 235/381; 235/492; 705/42; 705/44 |
Current CPC
Class: |
G06Q 20/105 20130101;
G06Q 20/3563 20130101; G06Q 20/40145 20130101; G07F 7/0846
20130101; G06Q 20/223 20130101; G07F 7/10 20130101; G06K 19/0718
20130101; G07F 7/0833 20130101; G06Q 20/341 20130101 |
Class at
Publication: |
705/16 ; 235/379;
235/381; 235/380; 235/492; 705/44; 705/42 |
International
Class: |
G06Q 40/00 20120101
G06Q040/00; G06K 5/00 20060101 G06K005/00; G06K 19/073 20060101
G06K019/073; G07F 19/00 20060101 G07F019/00 |
Claims
1. A method for transferring funds from a first financial card to a
second financial card, said method comprising (a) activating at
least one of said first and second financial cards by a provided
user identification means, and upon successful verification of the
user's identity; (b) engaging the data transfer protocol.
2. The method as claimed in claim 1 comprising (a) prompting an
user to enter the amount to be transferred, and upon receipt of an
input amount from the user; (b) prompting a first and second card
holders to authenticate themselves using the user identification
means of their respective cards, and upon successful identification
of the first and second users; (c) prompting the first and second
financial card users to bring said first and second cards into
close proximity; and (d) engaging the data transfer protocol.
3. The method as claimed in claim 1 or claim 2 comprising
communicating with one or more banking websites to authenticate one
or more requested fund transfers.
4. The method as claimed in claim 3, wherein said communication is
carried out using a wired or wireless communication means with a
banking website, banking intranet, cloud computer network or a
hosting website.
5. The method as claimed in claim 1 or claim 2, comprising security
identification using an iris scanner.
6. The method as claimed in claim 5, wherein said step of security
identification using an iris scanner comprises taking a picture of
the iris with a provided camera, analyzing the patterns in the iris
and confirming the identity of a user using the analyzed iris
patterns.
7. The method as claimed in claim 1 or claim 2 comprising
establishing a bluetooth communication between a first and a second
financial card in close proximity to each other, and in the event
of a successful identification, allowing fund transfer between the
two cards in proximity.
8. The method as claimed in claim 7, wherein allowing a fund
transfer between two cards in proximity comprises triggering a
web-based transfer protocol authorizing a fund transfer from the
first financial card to the second financial card in the event of a
successful identification by one or more proximate card users.
9. The method as claimed in claim 1 or claim 2 comprising notifying
both the parties involved in the transaction that the fund transfer
has been completed by email or short message servicing.
10. A method for transferring funds from a first financial card to
a second financial card, said method comprising (a) activating at
least one of said first and second financial cards by a user
identification means selected from fingerprint recognition scanner,
handwriting scanner, facial recognition scanner, hand geometry
scanner, finger geometry scanner, voice print scanner, iris pattern
scanner and vein geometry scanner, and upon successful verification
of the user's identity; (b) engaging the data transfer
protocol.
11. A method for transferring funds from a first financial card to
a second financial card, said method comprising (a) activating at
least one of said first and second financial cards by a user
identification means selected from a fingerprint recognition
scanner or an iris pattern scanner; (b) re-authenticating the
identified user of at least one of said first and second financial
cards using another different user identification means selected
from fingerprint recognition scanner, handwriting scanner, facial
recognition scanner, hand geometry scanner, finger geometry
scanner, voice print scanner, iris pattern scanner and vein
geometry scanner, and upon successful verification of the user's
identity; (c) engaging the data transfer protocol.
12. A financial card comprising at least one user identification
means selected from fingerprint recognition scanner, handwriting
scanner, facial recognition scanner, hand geometry scanner, finger
geometry scanner, voice print scanner, iris pattern scanner and
vein geometry scanner; and at least a data transfer protocol.
13. The financial card as claimed in claim 12, wherein said
fingerprint recognition scanner is an optical scanner or a
capacitance scanner.
14. The financial card as claimed in claim 12 comprising at least
another different secure identification means for the
identification of an user selected from a fingerprint recognition
scanner, handwriting scanner, facial recognition scanner, hand
geometry scanner, finger geometry scanner, voice print scanner,
iris pattern scanner and vein geometry scanner.
15. The financial card as claimed in claim 12 comprising a camera
adapted to take a picture of the iris of a user, analyze the
patterns in the iris and confirm the identity of a user using the
analyzed patterns.
16. The financial card as claimed in claim 15, wherein said camera
is adapted to record a transaction by recording pictures and/or
videos of the transaction.
17. The financial card as claimed in claim 12 comprising a screen
which displays information relating to the fund transfer to the
user.
18. The financial card as claimed in claim 12 comprising a keypad
allowing an user to enter information on being prompted by the
financial card.
19. The financial card as claimed in claim 12 comprising a mobile
data transfer device capable of communicating with one or more
banking websites to authenticate one or more requested fund
transfers.
20. The financial card as claimed in claim 19, wherein said
financial card communicates with one or more banking websites
directly through a wired or wireless communication means without
connecting to an intermediate computer or an automated teller
machine (ATM).
21. The financial card as claimed in claim 12, additionally
comprising a solar cell.
22. The financial card as claimed in claim 12 comprising a
bluetooth communication device adapted to identify other financial
card in proximity to the user's financial card and allows fund
transfer between the two cards in proximity on successful
identification.
23. The financial card as claimed in claim 12 comprising a card
identification means adapted to identify another card when any two
cards are brought into close proximity and initiate a web-based
data transfer protocol authorizing a fund transfer from the first
financial card to the second financial card account.
24. The financial card as claimed in claim 12 comprising of a
storage means for storing information identifying the plurality of
payee, payor, vendor or vendee involved in a transaction.
25. The financial card as claimed in claim 12 comprising a magnetic
stripe adapted to store information identifying the user, one or
more merchants, valid card number, expiration date, credit card
limits and information identifying the card usage.
26. A financial card comprising: (a) at least one user
identification means selected from fingerprint recognition scanner,
handwriting scanner, facial recognition scanner, hand geometry
scanner, finger geometry scanner, voice print scanner, iris pattern
scanner and vein geometry scanner; (b) at least another different
user identification means selected from fingerprint recognition
scanner, handwriting scanner, facial recognition scanner, hand
geometry scanner, finger geometry scanner, voice print scanner,
iris pattern scanner and vein geometry scanner; and (c) at least a
data transfer protocol.
27. The financial card as claimed in claim 26, wherein said data
transfer protocol enables communication of information between the
financial card and a banking website, banking host, cloud computer
or a bank intranet or between two cards or between the banking
website, banking host, cloud computer or a bank intranet and the
card.
28. The financial card as claimed in claim 27, wherein said data
transfer protocol is selected from a first generation data
protocol, second generation data protocol, general packet radio
service protocol, enhanced data GSM environment (EDGE protocol)
and/or 3G protocol, 4G protocol, 5G protocol and other sequential
protocols.
29. The financial card as claimed in claim 28, wherein said 3G data
transfer protocol is selected from universal mobile
telecommunication service, wide code division multiple access
protocol, high speed downlink packet access or evolution data
maximized protocol.
30. The financial card as claimed in claim 26 comprising a card
identification mechanism that identifies another card when any two
cards are brought into close proximity.
31. The financial card as claimed in claim 30, wherein said card
identification mechanism is an embedded microprocessor.
32. An automatic teller machine vending machine comprising a
financial card as claimed in claim 12 or claim 26.
33. A credit card swiping machine comprising a financial card as
claimed in claim 12 or claim 26.
34. A mobile communication device comprising a financial card as
claimed in claim 12 or claim 26.
35. A web portal utilizing a financial card as claimed in claim 12,
said web portal utilizing at least a fingerprint recognition
scanner or an iris pattern recognition scanner or claim 26.
36. A vending machine comprising a financial card as claimed in
claim 12 or claim 26.
37. A point of service (POS) terminal connected to a financial card
as claimed in claim 12 or claim 26.
Description
FIELD OF THE INVENTION
[0001] The present invention relates to a financial card. More
particularly, the present invention relates to a financial card and
a method for transferring financial information from one financial
card to another without using an automatic teller machine or
visiting bank wherein the transaction is permitted after an
authentic user identification.
BACKGROUND OF THE INVENTION
[0002] Online transferring of the funds from one account to another
is an efficient way offering the advantage of being convenient and
time saving. The credit or debit cards have been widely used for
payment, deposit, transfer and the like through an online system in
financial institutions such as a bank and a credit company. The
data for identifying a customer, such as a secret number, is
magnetically stored in the magnetic card. The technology used for
the online transfer has evolved over a period of time.
[0003] Electronic payments are convenient payment options that
avoid the need to write checks, swiping credit/debit cards or
handling paper money. The electronic payment mechanisms involve
entering user identification information into the web browsers to
effect the transactions. However, these electronic payments do not
come without substantial concerns regarding the privacy and
definite possibility of identity theft and consequent financial
frauds. It is desirable to inculcate safeguards into the electronic
payment mechanisms and credit/debit cards to protect sensitive
personal information from falling prey to fraudulent behavior.
[0004] One of the most prevalent methods for defending a user
against financial frauds is installing virus protection software
and firewalls on the computer. However, it is not always possible
to install anti-virus software on credit/debit cards.
[0005] Moreover, the electronic payment mechanisms are not always
preferred by the consumers as being too time consuming and due to
the problem of remembering a different login and password for every
credit/debit card. It is thus desirable to provide a financial card
having an inbuilt security feature that avoids the need to remember
an inconvenient plurality of login and passwords for each
account.
[0006] U.S. Pat. No. 4,001,550 relates to a universal funds
transfer and identification card having a plurality of fields of
changeable information, selectively addressable, so that the
information in selected fields may be read by a terminal for
obtaining from the card information necessary for completing a
transaction, and may be written into by the terminal for updating
the account status. The technology taught in the said patent
facilitates the transaction after PIN (personal identification
number) recognition that could be easy to be stolen and can cause
tremendous harm and hence is a weak security measure. PIN numbers
stored in scrambled configuration have the disadvantage of being
forgotten or being decrypted using software. The card is
susceptible to being misused once the card PIN is stolen or
compromised. It is desirable to provide a financial card that
facilitates card-card transaction after a fail-proof recognition
that is unique to each person thereby providing strong security
measure. The security feature provided in a financial card is
desirable to be fail-proof and preferably be more secure than using
a scrambled PIN. Moreover, it is often seen that people tend to
reuse the same pin number over and over for easy of remembering
thus creating a potential for security breach. It is desirable to
provide a financial card that further raises the bar on
security.
[0007] U.S. Pat. No. 4,498,000 relates to a security method and
device for confidential data communication in digital form via
intermediate stages; it applies to systems which allow data
exchange between bearers of crediting means and centralized
processing machines via specific independent non-supervised
terminal units. More particularly, the invention makes it possible
to identify, approve and possibly encode exchanges of data between
an authorized bearer of a crediting means and a remote centralized
processing machine via an independent specific terminal unit, so as
to preserve the confidential nature of the private data when
indiscretion is to be feared. This patent does not teach a
financial card that facilitates card-card transaction after a
fail-proof recognition that is unique to each person thereby
providing strong security measure. It is desirable to provide a
financial card that enables financial transactions in a more robust
manner without the possibility of potential financial misuse.
[0008] U.S. Pat. No. 4,650,981 relates to an interactive credit
card including intelligent circuitry and read/write data storage.
It does not disclose a financial card that enables compromise-proof
identification of the authentic user of the card prior to every
financial transaction that further enhances the security in
financial transactions.
[0009] U.S. Pat. No. 4,736,094 provide a financial transaction
processing system capable of performing a transaction with a
desired transaction account using only a single integrated circuit,
even if the customer has a plurality of transaction accounts at a
plurality of financial institutions, whereby complexity in handling
and managing a plurality of cards can be eliminated. The negative
with having multiple accounts on one card is that once the intruder
gains an "entry point" access to the card, the intruder can
compromise all the accounts, which can be a financially dangerous
situation. Thus, it is desirable to provide a financial card having
a multitude of identification means that is unique to each
individual thereby negating the chances of any possible financial
fraud.
[0010] U.S. Pat. No. 4,874,935 relates to a smart card apparatus
and a method for programming the same. More particularly, the
present invention relates to a smart card apparatus and method for
programming same with an open architecture approach. The security
measures used in the taught technology is storing personalized data
on the card that includes data field ID, a length of field, and
data attribute that are again does not offer security at par with
the security identification contemplated according to the instant
invention.
[0011] U.S. Pat. No. 5,478,993 relates to a process that provides a
staggered degree of security as a safety concept against
unauthorized use of a transaction card for purchasing of items. The
card has four memories memorizing an amount of money, a money
installment and its limiting value, a number of usable transactions
and its limiting value, further data for doing an identity check of
the ownership of the cardholder and also an authenticity check. The
card is usable at three different types of payment instruments with
or without an identity check and/or an authenticity check. Further,
U.S. Pat. No. 5,786,587 relates to a method of enhancing the
security of a chip card that contains an integrated circuit
including a changeable memory and a write once/read only memory. It
has been found that the security measure of prompting a card holder
for second information eventually gets recycled so many times that
eventually this data is so widespread in databases everywhere, that
this in itself is a security problem. With the advent of the
powerful search engines on the internet such as Google, social
networking sites such as facebook and other online search
resources, second information can be easy found out at the click of
a mouse. This "second information" such as user's "mother's maiden
name", "place of birth" "date of birth" and the typical questions
used to derive this information are also known by people close to
the user making the user susceptible to fraud and identity theft.
It has been documented that most identity theft victims fall
victims to some they know or someone very close to them.
Unscrupulous vendors could potentially also misuse this "second
information". There is thus a dire need for a financial card which
authorizes a financial transaction after positive user
identification so that the possibility of a fraudulent financial
transaction without the authentic user's approval is
eliminated.
[0012] These patents discussed hereinabove teach various
technologies adopted for the online transfer and security. Despite
the implementation of utmost security, there are cases of online
transfer frauds that affect the safety and to some extent are the
pull factors for not using these technologies. Moreover, the
technologies taught in the prior art enable only a two-way
transaction pattern from card to terminal or vice versa but does
not enable a multiple transaction pattern between card to card,
card to terminal or terminal to card financial transaction.
[0013] Therefore, there exists a need within the art for a
financial card and a method that overcomes at least the aforesaid
shortcomings of the prior art by including fingerprints or iris
recognition as the security authorization means, which are unique
for each individual, thereby minimizing any possibility of a
financial fraud, that facilitates card to card or terminal to card
transfer thereby providing "many to many" transaction pattern.
These and other advantages of the present invention are realized in
the manner described hereinafter.
SUMMARY OF THE INVENTION
[0014] According to an aspect of the present invention, there is
provided a financial card comprising at least a user identification
means and at least a data transfer protocol.
[0015] According to another aspect of the present invention, there
is provided a method for transferring funds from a first financial
card to a second financial card, said method comprising: [0016] (a)
activating at least one of said first and second financial cards by
a provided user identification means, and upon successful
verification of the user's identity; [0017] (b) engaging the data
transfer protocol.
[0018] These and other aspects and embodiments thereof are
described in exemplary details hereunder, which are not to be
construed as limiting.
ADVANTAGES OF THE INVENTION
[0019] Accordingly, an advantage of the present invention is a
financial card that is activated by the fingerprint authorization
wherein any transaction is permitted only after a successful unique
identification thereby offering enhanced security.
[0020] Another advantage of the present invention is an efficient
measure for dealing with online fund transfer frauds thereby
providing a fail-proof security for preventing financial
frauds.
[0021] Another advantage of the present invention is a financial
card that facilitates card to card or terminal to card transfer
thereby providing "many to many" transaction pattern.
[0022] Yet another advantage of the present invention is in
providing a secure anywhere banking wherein a user can effect
secure transfer of funds from a first financial card to a second
financial card instantly.
[0023] Further advantage of the present invention is to provide a
method for the transfer of funds from a first financial card to a
second financial card without the need for visiting an automatic
teller machine (ATM), the card issuing bank or its website.
[0024] Another advantage of the present invention is to provide a
financial card and a method that provides instant fund transfer
with enhanced impenetrable financial security to the
cardholder.
BRIEF DESCRIPTION OF THE DRAWINGS
[0025] The invention will now be described in connection with the
drawings described hereinafter.
[0026] FIG. 1 illustrates the front view of the financial card
comprising the fingerprint recognition and iris recognition
biometrics and other features according to an embodiment of the
present invention.
[0027] FIG. 2 illustrates the rear view of the financial card
comprising data transfer protocol and other features according to
an embodiment of the present invention.
[0028] FIG. 3 explains the functioning of the financial card using
the data transfer protocol according to an embodiment of the
present invention.
[0029] FIG. 4 illustrates the application of financial card in
automatic teller machine according to an embodiment of the present
invention.
[0030] FIG. 5 illustrates the application of financial card in
credit card machine according to an embodiment of the present
invention.
[0031] FIG. 6 illustrates the application of financial card in
mobile phone according to an embodiment of the present
invention.
[0032] FIG. 7 illustrates the application of financial card in web
according to an embodiment of the present invention.
[0033] FIG. 8 illustrates the application of financial card in
vending machine according to an embodiment of the present
invention.
[0034] FIG. 9 illustrates the application of financial card at a
point of sale terminal according to an embodiment of the present
invention.
[0035] FIG. 10 is a schematic representation of the fund transfer
from one financial card to another.
[0036] FIG. 11 illustrates the "one to one" transaction pattern of
the prior art.
[0037] FIG. 12 illustrates the "many to many" transaction pattern
contemplated according to the present invention.
PARTICULAR ADVANTAGES OF THE INVENTION
[0038] There is provided a financial card comprising a fingerprint
recognition scanner and a data transfer protocol such that a
transaction is only activated following an unique user
identification. The financial card may be incorporated within
another device such as a computer, touch-screen devices, mobile
phones, computers, social media, televisions, cash registers,
kiosks, vending machines, point of sale devices and automatic
teller machines. In one aspect, the financial card includes two or
more secure identification means for the identification of a user.
In addition to the fingerprint identification, here is provided a
handwriting scanner, hand and finger geometry scanner, voice print
scanner, iris scanner and/or vein geometry scanner. In one aspect,
the financial card has a mobile data transfer device to communicate
over a wired or wireless communication means directly with the
banking website, banking host, cloud computer or a bank intranet
without linking-up to an automatic teller machine or a
computer.
DETAIL DESCRIPTION OF THE INVENTION
[0039] Therefore, the present invention provides a financial card
comprising at least an user identification means and at least a
data transfer protocol.
[0040] The user identification means of the present invention
enables a secure identification of an user without possibility of a
compromise. As used herein, the term "user identification means" of
the present invention shall be defined to mean identification of an
user using at least, or alternatively, a plurality of scanners
selected from fingerprint recognition scanner, handwriting scanner,
facial recognition scanner, hand geometry scanner, finger geometry
scanner, voice print scanner, iris pattern scanner and vein
geometry scanner.
[0041] In an embodiment, the user identification means of the
present invention is a fingerprint scanner. The fingerprint scanner
of the instant invention is capable of obtaining an image of a
user's finger and determining whether the fingerprint pattern i.e.
the pattern of ridges and valleys in the imaged finger matches the
pattern in the pre-scanned image. The pre-scanned image is
typically the fingerprint pattern of an authentic user of the
financial card. A financial transaction is authorized only if the
fingerprint of the user matches the pre-scanned image stored in the
financial card.
[0042] The fingerprint recognition scanner of the present invention
may be an optical fingerprint scanner or capacitive fingerprint
scanner. In an embodiment, an optical scanner comprises an array of
light sensitive diodes or photosites, which generate an electric
signal in response to photons being incident thereon. Each
photosite is made capable of recording a pixel, which may be a
light pixel or a dark pixel. An array of light and dark pixels
forms an image of the finger, which is thereafter compared with the
pre-scanned image of an authentic user's fingerprint for
authentication.
[0043] In an embodiment, the fingerprint scanner of the present
invention is a capacitive fingerprint scanner. Each capacitive
scanner comprises an array of cells, each cell having two conductor
plates covered with an insulator. A finger placed on the scanner
for identification forms the third capacitive plate. The pattern of
ridges and valleys on the finger alters the capacitance of the cell
thereby altering the voltage output for the ridges and valleys. The
pattern of ridges and valleys closely reflects the fingerprint
pattern, which is then compared with the pre-scanned fingerprint
image stored on the financial card of the instant invention to
authenticate a requested financial transaction.
[0044] In another embodiment, the user identification means of the
present invention comprises handwriting recognition scanner. The
handwriting recognition scanner of the present invention includes a
touch sensitive writing surface and a pen that is capable of
detecting the angle, pressure and direction of an user's
handwriting. The handwriting scanner thereafter draws the detected
angle, pressure and direction into a graph, compares the graph with
a pre-stored graph and allows a financial transaction in the event
of two graphs matching each other.
[0045] In an embodiment, the user identification means of the
present invention comprises a hand and finger geometry scanner to
authenticate a requested financial transaction. The hand and finger
geometry scanner flat glass plate on which an user is requested to
place his hand, a provided camera pictures the hand to determine
the length, width, thickness and curvature of the hand and fingers,
converts the detected information into a template and compares the
template with a pre-selected template prior to a requested
financial transaction.
[0046] In another embodiment, the user identification means of the
present invention is a voiceprint scanner. The voiceprint scanner
plots a spectrograph on being fed a voice sample, compares the
plotted spectrograph with a pre-defined spectrograph and
authenticates a requested financial transaction in the event the
plotted spectrograph matches with the stored spectrograph.
[0047] In another embodiment, the user identification means of the
present invention comprises an iris pattern scanner. The iris
pattern scanner of the present invention locates the center and
edge of the pupil and the edge of the iris, eyelids and eyelashes,
analyzes the patterns in the iris and determines a code using the
scanned information. The determined code is thereafter compared to
predetermined code and a requested financial transaction is
authenticated subsequent to a match between the determined and the
predetermined codes.
[0048] In an embodiment, the user identification means of the
present invention comprises a vein geometry scanner to authenticate
a requested financial transaction. The vein geometry scanner plots
a template of the shape and location of a user's vein structure to
a template and compares the plotted template with a pre-selected
template prior to a requested financial transaction. A requested
financial transaction is authenticated subsequent to a match
between the determined and the predetermined vein geometry
templates.
[0049] In another embodiment, the user identification means
comprises a facial recognition scanner. The facial recognition
scanner measures one or more features of a face selected from
distance between the eyes, width of the nose, depth of the eye
sockets, shape of the cheekbones and/or the length of the jawline
and creates a faceprint of the imaged face. The faceprint is
thereafter compared with a stored faceprint and a requested
financial transaction is authenticated subsequent to a match
between the determined and predetermined faceprint.
[0050] It should be noted however that the user identification
means of the present invention may be used as such available, the
fabrication and function of which is not a criticality of the
present invention.
[0051] The present invention therefore utilizes an user
identifications means according to the present invention as a
transaction authorization mechanism thereby ruling out the
possibility of an identity fraud as the detected characteristic
patterns are unique markers for an individual. In the event of a
successful authentication, the financial card of the present
invention engages a data transfer protocol.
[0052] The data transfer protocol of the present invention enables
communication of information between the financial card and a
banking website, banking host, cloud computer or a bank intranet or
between two cards or between the banking website, banking host,
cloud computer or a bank intranet and the card. The data transfer
protocol of the present invention may be a first generation data
protocol, second generation data protocol, general packet radio
service protocol, enhanced data GSM environment (EDGE protocol)
and/or 3G protocols such as universal mobile telecommunication
service, wide code division multiple access protocol, high speed
downlink packet access or evolution data maximized protocol. The
data transfer protocol of the present invention is not particularly
limiting and is not a criticality. In an embodiment, the data
transfer protocol includes sequential generational protocols such
as 2G, 3G, 4G and future protocol generations.
[0053] In another embodiment, the financial card comprises a mobile
data transfer device. Upon successful identification of a user, the
provided mobile data transfer device communicates with one or more
banking websites to authenticate one or more requested fund
transfers. The data transfer device is preferably provided with a
light emitting diode (LED) that glows to a "green" color signifying
a data transfer in progress. Therefore, in this embodiment, the
financial card of the present invention communicates over a wired
or wireless communication means directly with the banking website,
banking host, cloud computer or a bank intranet without linking-up
to an automatic teller machine or a computer. These mobile transfer
devices and LEDs are conventionally known in the art and may be
used as such available.
[0054] In an embodiment, the financial card of the present
invention is provided with a bluetooth communication device. The
provided bluetooth communication device identifies other financial
card in proximity to the user's financial card and allows fund
transfer between the two cards in proximity on successful
identification. These Bluetooth communication devices are
conventionally known in the art and may be used as such available.
The word "proximity" is intended herein to mean a distance of from
about 10 meters to about 100 meters, which allows the data transfer
protocol to be engaged between a plurality of financial cards of
the present invention.
[0055] In an embodiment, the financial card of the present
invention may be a card including but not limited to, an automated
teller machine readable card, a credit card, a charge card or a
debit card.
[0056] In embodiment, the financial card of the present invention
includes at least a fingerprint recognition scanner or an iris
recognition scanner and at least another different identification
means selected from fingerprint recognition scanner, iris scanner,
handwriting scanner, hand and finger geometry scanner, voice print
scanner, face pattern recognition scanner and vein geometry
scanner. These scanner types are conventionally known in the art
and may be used as such available.
[0057] The financial card of the present invention comprises a
camera. The provided camera may be equipped to record any
transaction by recording pictures and/or videos of the transaction.
In this embodiment, the secure identification means identifies an
user and allows a transaction only if the identified user has an
account with the issuing bank. These iris scanner and cameras for
iris pattern recognition are conventionally known in the art and
may be used as such available.
[0058] In an embodiment, the financial card of the present
invention comprises a screen, which displays information relating
to the fund transfer to the user. These screens are conventionally
known in the art and may be used as such available. Preferably, the
screen may be a light emitting diode screen, which is
conventionally known in the art.
[0059] In another embodiment, the financial card of the present
invention comprises a keypad. The provided keypad allows a user to
enter information on being prompted by the financial card to do so.
These keypads are conventionally known in the art and may be used
as such available.
[0060] In an embodiment, the financial card of the present
invention comprises a card identification mechanism that identifies
another card when any two cards are brought into close proximity.
Upon successful confirmation by a user, the card identification
mechanism initiates the data transfer protocol authorizing a fund
transfer from the first financial card to the second financial card
account. In this embodiment, the card identification mechanism
notifies both the parties involved in the transaction that the fund
transfer has been completed. Preferably, the parties involved are
notified regarding the completion of a fund transfer by email or
short message servicing.
[0061] In an embodiment, the card identifications mechanism
comprises an embedded microprocessor, which is capable of
communicating with another microprocessor embedded into another
financial card using a data transfer protocol. The microprocessor
comprises data stored therein including information identifying an
user's identity and/or user's banking information such as bank
account numbers, credit card numbers, debit card numbers and charge
card numbers.
[0062] In an embodiment, the microprocessor is under a gold contact
pad on one side of the card.
[0063] In this embodiment, the financial card of the present
invention comprises storage means for storing information
identifying the plurality of payee, payor, vendor or vendee
involved in a transaction. The stored information may be retrieved
to authorize payments subsequently upon being authorized by a user
to do so. These storage means are conventionally known in the art
and may be used as such available.
[0064] In an embodiment of the present invention, the financial
card of the present invention may be adapted to store information
identifying multiple accounts of a user including accounts jointly
held by the user with other individuals. In an embodiment, the
financial card of the present invention may be adapted to require
authentication by the individual fingerprints of the joint account
holders prior to authenticating a requested financial
transaction.
[0065] In an embodiment, the term "fund" or "funds" as used herein
is intended to include money in the form of local or foreign
currency, mutual equity fund or debt fund units, commercial papers,
government bonds, treasury bills, liquid funds, equity shares,
exchange traded funds and commodity traded funds.
[0066] The financial card of the present invention comprises a
magnetic stripe in addition to an embedded microprocessor. The
magnetic stripe includes information identifying the user, one or
more merchants, valid card number, expiration date, credit card
limits and information identifying the card usage. Magnetic stripes
are conventionally known in the art and may be used as such
available.
[0067] In another embodiment, the financial card of the present
invention may be incorporated within another device such as a
computer, touch-screen devices, mobile phones, computers, social
media, televisions, cash registers, kiosks, vending machines, point
of sale devices and automatic teller machine.
[0068] In another embodiment, the financial card of the present
invention additionally includes one or more solar cells, which
power the functionalities of the financial card. The solar power
collected may be stored in a provided battery or a capacitor, both
of which form alternate embodiments of the instant invention. These
solar cells are conventionally known in the art and may be used as
such available.
[0069] In yet another aspect, the present invention provides a
method for transferring funds from a first financial card to a
second financial card comprising (a) activating at least one of
said first and second financial cards by a user identification
means, and upon successful verification of the user's identity; (b)
engaging the data transfer protocol. As used herein, the term "user
identification means" of the present invention shall be defined to
mean identification of an user using at least, or alternatively, a
plurality of scanners selected from fingerprint recognition
scanner, handwriting scanner, facial recognition scanner, hand
geometry scanner, finger geometry scanner, voice print scanner,
iris pattern scanner and vein geometry scanner.
[0070] In an embodiment, the method of the present invention
prompts a user to enter the amount to be transferred, and upon
receipt of an input amount from the user, prompts the first and
second card holders to place their predetermined fingers on the
fingerprint recognition scanners provided on said first and second
cards. Upon successful identification of the first and second
users, the financial cards prompt their respective users to bring
said first and second cards into close proximity. Upon successful
verification of the user's identity, the transaction is initiated
by engaging the data transfer protocol on the card. In the event of
an unsuccessful identification, the transaction is promptly
cancelled.
[0071] In this embodiment, the data transfer protocol is intended
to have the same meaning as the meaning intended according to any
previous aspect or embodiment thereof.
[0072] In an embodiment, the method of the present invention
comprises initiating a data transfer protocol when a first
financial card is brought into close proximity to a second
financial card. Upon successful identification of a user, the
provided mobile data transfer device communicates with one or more
banking websites to authenticate one or more requested fund
transfers. The data transfer device is preferably provided with a
light emitting diode that glows to a "green" color signifying a
data transfer in progress.
[0073] In an embodiment, the user identification means of the
invention comprises at least a fingerprint scanner and/or or an
iris scanner and at least another identification means selected
from fingerprint recognition scanner, handwriting scanner, facial
recognition scanner, hand geometry scanner, finger geometry
scanner, voice print scanner, iris pattern scanner and vein
geometry scanner.
[0074] In an alternate embodiment, the method of the present
invention comprises establishing a wireless bluetooth communication
between a first and a second financial card in close proximity to
each other. In the event of a successful identification, the method
comprises allowing fund transfer between the two cards in
proximity. In the event of an unsuccessful identification, the
transaction is promptly cancelled.
[0075] In this embodiment, a successful identification by one or
more users whose cards are brought into close proximity triggers a
web-based transfer protocol authorizing a fund transfer from the
first financial card to the second financial card. The method
includes identifying both the parties involved in the transaction
that the fund transfer has been completed by email or short message
servicing.
[0076] In yet another embodiment, the method of the present
invention comprises storing information identifying the plurality
of payee, payor, vendor or vendee involved in a transaction. The
stored information may be retrieved to authorize payments
subsequently upon being authorized by a user to do so.
[0077] FIG. 1 illustrates the front view of an exemplary embodiment
of a financial card comprising fingerprint recognition and iris
recognition biometrics and other features according to the present
invention. The finger print recognition biometric scanner 1 is
activated by finger print recognition. Financial card includes a
means 2 that sends data over the internet when the card is
activated by the fingerprint. Upon activation, the financial card
prompts the user to enter the amount of funds that he wishes to be
transferred to a predetermined account. The user enters the amount
through a provided keypad 3 which is displayed on a provided screen
4. The camera 5 has an iris recognition biometrics that also
recognizes the user. However, it should be understood that the term
"Internet" is not intended to be limiting. In an alternate
embodiment, the financial card may communicate with one or more
banking websites or any intranet, cloud computer network or any
other hosting website using wired or wireless communications means.
Exemplary wired or wireless communications means include cable,
internet, intranet, networked computers, mobile networks etc., all
of which are intended to be included within the scope of the
present invention. Additionally, the financial card of the present
invention is provided with solar cell 6 in this embodiment of the
present invention. Additionally, the financial card comprises a
hologram, preferably a 3-D hologram 7 of the card issuing bank in
order to enhance the security of the card.
[0078] FIG. 2 illustrates the rear view of the financial card
comprising the magnetic strip 8, signature bar 9, the card issuer's
hologram 10 and the card identification means 11. The card
identification means 11 identifies another card when any two cards
are brought into close proximity and initiates the web-based data
transfer protocol authorizing a fund transfer from the first
financial card to the second financial card account.
[0079] FIG. 3 explains the functioning of the financial card using
the data transfer protocol according to an embodiment of the
present invention. The financial cards are activated after
successful fingerprint scanner identification and a data transfer
protocol is initiated after a successful identification.
[0080] FIG. 4 illustrates the application of financial card in an
automated teller machine (ATM) according to an embodiment of the
present invention. The automatic teller machine comprises at least
a fingerprint recognition scanner 12 and a camera 13 for iris
recognition scanning. The conventional features present in the
automatic teller machine according to an embodiment of the present
invention include a keyboard 14, cash deposit 15, check deposit
slot 16 and a screen 17.
[0081] FIG. 5 illustrates the application of financial card in
credit card machine according to an embodiment of the present
invention. The credit card machine 18 according to this embodiment
of the invention comprises a fingerprint recognition scanner 19, a
key pad 20, a card swiping slot 21, a touch-screen interface 22 and
a receipt printer 23. The credit card machine allows a transaction
only after successful fingerprint scanner identification.
[0082] FIG. 6 illustrates the application of financial card in
mobile phone according to an embodiment of the present invention.
The mobile phone comprises a camera 24 for iris identification, an
antenna 25 for data transfer, a keyboard 26 (which is an on-screen
keyboard), an ear piece 27, a screen 28, a microphone and a
fingerprint recognition scanner 29. The mobile phone allows a
transaction only after successful fingerprint scanner
identification.
[0083] FIG. 7 illustrates the application of financial card in web
according to an embodiment of the present invention. In this
web-based embodiment, the invention provides a touch-screen display
comprising a web-camera 30 for iris identification, an on-screen
touch-screen keyboard 31 and an on-screen fingerprint scanner 32.
The touch-screen display allows a transaction only after successful
fingerprint scanner identification.
[0084] FIG. 8 illustrates the application of financial card in
vending machine according to an embodiment of the present
invention. The vending machine according to an embodiment comprises
an iris scanner (33), a fingerprint scanner (34), a product display
(35) and a product dispenser (36). In this embodiment, the purchase
is authorized only after a successful fingerprint authorization or
eye pattern authorization by the iris scanner.
[0085] FIG. 9 illustrates the application of financial card at a
point of service(POS) terminal according to an embodiment of the
present invention. The POS retrofit according to the instant
embodiment comprises an iris scanner 37 and a fingerprint scanner
38 connected to a POS terminal (not shown). The POS terminal allows
a transaction only after a positive fingerprint scanning
authorization and optionally, after a successful iris pattern
recognition.
[0086] FIG. 10 is a schematic representation of the fund transfer
mechanism from one financial card to another financial card. It
illustrates the method of fund transfer according to the present
invention wherein user inputs the requested transfer amount and
thereafter the sender and receiver verify identity on their own
cards. If the identity is not verified, transaction is cancelled
whereas on a successful verification of identity, a transaction is
processed by interaction between the cards. The receiver's card
contacts the sender's bank via internet and confirms the completion
of the transaction. The transaction is then processed and funds are
transferred to receivers account in case of sufficient funds being
available in the sender's account.
[0087] FIG. 11 illustrates the "two way" transaction pattern of the
prior art that involves card to terminal or terminal to card
transaction.
[0088] FIG. 12 illustrates the "multiple" transaction pattern
contemplated according to the present invention that involves card
to card, card to terminal or terminal to card financial
transaction.
[0089] While the invention has been described in connection with
what is presently considered to be the most practical and preferred
embodiment, it is to be understood that the invention is not to be
limited to the disclosed embodiment, but on the contrary, is
intended to cover various modifications and equivalent arrangements
included within the spirit and scope of the appended claims.
* * * * *